Republicans Explore ‘Hybrid Pension Tax’
LANSING (WWJ) – Unable to pass Governor Rick Snyder’s pension tax, Senate Republicans are now exploring new options to create revenue.
They are entertaining the idea of a so-called “hybrid pension tax.” The hybrid tax would be reduced to take half of Synder’s original amount from senior’s pension checks and perhaps raise the business tax a little more to come up with new revenue.
Randy Richardville, Senate Republican Leader, said the hybrid tax is quite likely to take form.
“That’s a possibility. I don’t think that’s off the table at all. I would think that there’s a pretty good chance we’ll be someplace in between the two,” Richardville said.
However, Gretchen Whitmer, Senate Democratic Leader, said she is not a fan of this hybrid tax option at all.
“It’s a tax shift. There’s no other way of saying it. And it’s a tax shift on the people who can afford at least in order to pad bottom lines of businesses with no guarantee that they create jobs or invest in Michigan, ” Whitmer said.
WWJ Lansing Bureau Chief Tim Skubick said the bottom line is that there are not enough votes in the Senate to pass the Snyder pension tax, which is why the republican party has been looking for a modified approach instead.